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The downsizing follows a week of business updates for eBay. On the same day it shared its latest financial results, the company announced that it would acquire Depop, a consumer-to-consumer secondhand fashion retailer, from Etsy. The Depop purchase carried a $1.2 billion price tag, which could put at least a small dent in the $11.1 billion it reported in 2025 full-year revenue.
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The build-out comes as new energy vehicle adoption remains strong. In 2025, China produced 16.626 million new energy vehicles and sold 16.49 million units, up 29% and 28.2% respectively, data from the China Association of Automobile Manufacturers showed.